MIRA INFORM REPORT
|
Report Date : |
22.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
CAN-PACK INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. L-18/25 to L-18/28 and L-19, MIDC, Waluj, Aurangabad –
431136, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2011 |
|
|
|
|
Date of
Incorporation : |
26.11.2007 |
|
|
|
|
Com. Reg. No.: |
11-176188 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2479.978 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52390MH2007PTC176188 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCC2125J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Aluminum Beverage Cans. |
|
|
|
|
No. of Employees
: |
175 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 8350000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate record. There
appears some accumulated losses recorded by the company. The external
borrowing seems to be increasing. However, capital base appears to be strong. Trade relations are
reported to be fair. Business is active. Payments are slow. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including industrial
deregulation, privatization of state-owned enterprises, and reduced controls on
foreign trade and investment, began in the early 1990s and has served to
accelerate the country's growth, which has averaged more than 7% per year since
1997. India's diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India's output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis - in large
part because of strong domestic demand - and growth exceeded 8% year-on-year in
real terms. However, India's economic growth in 2011 slowed because of persistently
high inflation and interest rates and little progress on economic reforms. High
international crude prices have exacerbated the government's fuel subsidy
expenditures contributing to a higher fiscal deficit, and a worsening current
account deficit. Little economic reform took place in 2011 largely due to
corruption scandals that have slowed legislative work. India's medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED BY
|
Name : |
Mr. Ajit Kalkar |
|
Designation : |
Account Manager |
|
Contact No.: |
91-240-6600000 |
|
Date : |
20.03.2013 |
LOCATIONS
|
Registered Office : |
Plot No. L-18/25 to L-18/28 and L-19, MIDC, Waluj, Aurangabad –
431136, Maharashtra, India |
|
Tel. No.: |
91-240-6600000 |
|
Fax No.: |
91-240-6600001 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 14.06.2012
|
Name : |
Mr. Harsh Vardhan Jajoo |
|
Designation : |
Managing Director |
|
Address : |
Plot No. 231, Sector B, N-1 Cidco, Aurangabad – 431003, Maharashtra,
India |
|
Date of Birth/Age : |
22.05.1969 |
|
Qualification : |
FCA |
|
Experience : |
18 Years |
|
Date of Appointment : |
26.11.2007 |
|
DIN No.: |
00758308 |
|
|
|
|
Name : |
Mr. Michal Sloniec |
|
Designation : |
Director |
|
Address : |
Green Community Popply Lane-808, Dubai 11111, UAE |
|
Date of Birth/Age : |
09.11.1977 |
|
Date of Appointment : |
18.05.2009 |
|
DIN No.: |
01939099 |
|
|
|
|
Name : |
Mr. Jacek Olgierd Marciniszyn |
|
Designation : |
Director |
|
Address : |
Zakatek 3/4, Krakow 30076, Poland |
|
Date of Birth/Age : |
17.09.1972 |
|
Date of Appointment : |
18.05.2009 |
|
DIN No.: |
01938903 |
|
|
|
|
Name : |
Mr. Dilip Kisanlal Kela |
|
Designation : |
Director |
|
Address : |
1, Lokmat Apartment Town Centre, Aurangabad – 431005, Maharashtra,
India |
|
Date of Birth/Age : |
28.06.1968 |
|
DIN No.: |
01879826 |
KEY EXECUTIVES
|
Name : |
Mr. Ajit Kalkar |
|
Designation : |
Account Manager |
|
|
|
|
Name : |
Mr. Sanjeev Kumar |
|
Designation : |
Company Secretary |
|
Address : |
H-204, Kailash Arcade, N-5, CIDCO Aurangabad – 431003, Maharashtra,
India |
|
Date of Birth/Age : |
02.10.1970 |
|
Date of Appointment : |
24.02.2009 |
|
PAN No.: |
AMZPK4423G |
|
|
|
|
Name : |
Mr. Rafal Gargol |
|
Designation : |
Manager-Operation |
|
Date of Birth/Age : |
37 Years |
|
Qualification : |
Engineer |
|
Experience : |
8 Years |
|
Date of Appointment : |
01.01.2011 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 14.06.2012
|
Names of Shareholders |
|
No. of Shares |
|
Can-Pack SA, Poland |
|
19208463 |
|
Can-Pack ME DMCC, UAE |
|
6405133 |
|
|
|
|
|
Total |
|
25613596 |
As on: 14.06.2012
|
Names of Allottee |
|
No. of Shares |
|
Can-Pack SA, Poland |
|
10383445 |
|
|
|
|
|
Total |
|
10383445 |
Equity Share Break up (Percentage of Total Equity)
As on: 14.06.2012
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Aluminum Beverage Cans. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (As on: 31.12.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Aluminum Beverage Cans (In Millions) |
Nos. |
900.00 |
750.00 |
663.32 |
Notes:
In addition to the above, the company holds following industrial licenses for which there are no production during the year.
1) Aluminum Easy Open Ends 970 Millions.
2) Aluminum Can recycling to produce aluminum stocks for beverage cans 7000 MT.
GENERAL INFORMATION
|
No. of Employees : |
175 (Approximately) |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
G/6 Garden Colony, A Wing 2nd L J Cross Road, Mahim (West), Mumbai – 400016, Maharashtra, India |
|
PAN No.: |
AABFD7919A |
|
|
|
|
Holding Company : |
Can Pack S A, Poland |
|
|
|
|
Investing Party : |
Can Pack Middle East DMCC |
|
|
|
|
Companies under
Common Control (Fellow Subsidiaries) : |
|
CAPITAL STRUCTURE
After: 14.06.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
39782300 |
Equity Shares |
Rs.100/- each |
Rs.3978.230 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35997041 |
Equity Shares |
Rs.100/- each |
Rs.3599.704
Millions |
|
|
|
|
|
As on: 14.06.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25998300 |
Equity Shares |
Rs.100/- each |
Rs.2599.830 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25613596 |
Equity Shares |
Rs.100/- each |
Rs.2561.360 Millions
|
|
|
|
|
|
As on: 31.12.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25998300 |
Equity Shares |
Rs.100/- each |
Rs.2599.830 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24799784 |
Equity Shares |
Rs.100/- each |
Rs.2479.978
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2479.978 |
1855.714 |
1853.571 |
|
|
2] Share Application Money |
81.381 |
0.000 |
0.536 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(471.576) |
(10.059) |
(2.378) |
|
|
NETWORTH |
2089.783 |
1845.655 |
1851.729 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
2407.053 |
2024.518 |
2109.028 |
|
|
TOTAL BORROWING |
2407.053 |
2024.518 |
2109.028 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
4496.836 |
3870.173 |
3960.757 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3548.779 |
3070.300 |
3336.414 |
|
|
Capital work-in-progress |
4.979 |
98.574 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
81.827 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
972.485
|
561.948
|
375.979 |
|
|
Sundry Debtors |
614.298
|
183.690
|
105.583 |
|
|
Cash & Bank Balances |
37.414
|
30.782
|
120.682 |
|
|
Other Current Assets |
392.747
|
243.092
|
5.996 |
|
|
Loans & Advances |
39.982
|
37.617
|
191.061 |
|
Total
Current Assets |
2056.926
|
1057.129
|
799.301 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1064.346
|
410.511
|
139.112 |
|
|
Other Current Liabilities |
45.375
|
24.758
|
34.656 |
|
|
Provisions |
4.127
|
2.388
|
1.190 |
|
Total
Current Liabilities |
1113.848
|
437.657
|
174.958 |
|
|
Net Current Assets |
943.078
|
619.472
|
624.343 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
4496.836 |
3870.173 |
3960.757 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
3359.650 |
2322.320 |
603.920 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
3326.390
(Including Foreign Exchange Loss |
2034.020 |
489.950 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
33.260 |
288.300 |
113.970 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
119.270 |
117.270 |
50.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(86.010) |
171.030 |
63.870 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
293.680 |
260.560 |
66.250 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(379.690) |
(89.530) |
(2.380) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
81.830 |
(81.850) |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(461.520) |
(7.680) |
(2.380) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(10.060) |
(2.380) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(471.580) |
(10.060) |
(2.380) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sale of Finished Goods (including scrap) |
608.306 |
|
|
|
|
|
Sale of Miscellaneous Items |
0.058 |
2.613 |
|
|
|
|
Reimbursement of Expenses |
3.005 |
41.652 |
|
|
|
TOTAL EARNINGS |
611.369 |
595.890 |
99.889 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2216.311 |
|
|
|
|
|
Finished goods |
10.167 |
0.000 |
|
|
|
|
Spare Parts |
54.617 |
|
|
|
|
|
Tangible Fixed Assets (including capital work in progress) |
260.065 |
60.236 |
|
|
|
|
Material in Transit |
264.047 |
85.218 |
|
|
|
TOTAL IMPORTS |
2805.207 |
1756.547 |
1654.024 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(18.47) |
(0.41) |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
PAT / Total Income |
(%) |
(13.74) |
(0.33)
|
(0.39) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(6.77) |
(2.17)
|
(0.06) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.18) |
(0.05)
|
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.15 |
1.10
|
1.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.85 |
2.42
|
4.57 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS:
(Rs.
In Millions)
|
Particulars
|
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
Sundry
Creditors |
|
|
|
|
Creditors due small micro enterprises |
0.000 |
0.000 |
|
|
Creditors due others |
1064.346
|
410.511
|
|
|
|
|
|
|
|
Total |
1064.346
|
410.511 |
139.112 |
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.12.2011 |
As on 31.12.2010 |
|
Other external commercial borrowings unsecured |
2407.053 |
2024.518 |
|
|
|
|
|
Total |
2407.053 |
2024.518 |
Note:
The Registered Office of the company has been shifted from Hotel
Vrindavan Garden, X-125, Waluj MIDC Industrial Area, Aurangabad – 431136,
Maharashtra, India to the present address w.e.f 27.03.2009.
PERFORMANCE ANALYSIS
During the year under consideration the total income has been increased to Rs. 3359.650 millions which is almost 45% higher from total income of previous year. Total expenditure increased to Rs. 3326.390 millions which is almost 63% higher from total expenditure of previous year. Due to substantial foreign exchange loss of amount Rs. 442.820 millions during the year under consideration the profit before depreciation, interest and taxes were substantially reduced to Rs. 33.260 millions and after considering the depreciation interest and taxes total loss of the company was increased to Rs. 471.580 millions which included Rs. 10.060 millions carried forward loss of previous year.
REVIEW OF CURRENT OPERATIONS
The Company increased its production capacity from 750 Millions beverage cans to 850 Millions cans per annum during the year under consideration.
During the year under consideration the company also achieved the status of Star Export House from the office of Director General of Foreign Trade under Foreign Trade Policy 2009-14.
INDUSTRY STRUCTURE
AND DEVELOPMENTS: -
The company has consolidated its market position in India and the neighboring countries and enjoys a 70% market share. The total 2-pc beverage can market for the region (India, Sri-Lanka & Nepal) is estimated to be ~ 900 Million cans and is expected to grow in double digits year on year for the next 5 years.
The market is currently dominated by UB, Coca-Cola, Pepsi and SAB Miller which constitute about 80% of the market and there are a few other companies which complete the pie. The company has managed to secure major long term contracts with most of the companies.
The company has excellent relations with all beverage manufacturers in the region translating into major volumes for the company. The company has been successfully been audited by Coca-Cola, Pepsi Cola, UB, Carlsberg, Heineken and SAB Miller.
Recently the company has been awarded the Gold category supplier by Coca-Cola India. Below is the picture of the award presented by Coca-Cola India to the Company. The Company successfully completed the Audit conducted by SGS India Private Limited under Suppliers Guidelines Principle with zero marks.
CONTINGENT
LIABILITIES NOT PROVIDED:
(Rs.
In Millions)
|
Particular |
As on 31.12.2011 |
As on 31.12.2010 |
|
Customs Duty forgone under EPCG License Scheme* |
248.515 |
293.747 |
|
Bank Guarantee Issued to Customs |
-- |
68.256 |
|
Differential Custom duty payable (including interest thereon)** |
27.842 |
24.213 |
Notes:
*This indicates the amount of duty benefit availed under EPCG License scheme in respect of which corresponding export obligation needs to be fulfilled.
**Company has received an order from the office of the Commissioner of Customs (Imports) demanding the additional payment of duty, which the Company has filed an appeal with Commissioner of Customs (Appeal), Mumbai.
FIXED ASSETS
- Land and Building
- Plant and Machinery
- Office Equipments
- Factory Equipments
- Computer Equipments
- Furniture and Fixtures
- Vehicles
- Aircrafts Helicopters
- Knowhow
- Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.28 |
|
|
1 |
Rs.82.06 |
|
Euro |
1 |
Rs.70.23 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.